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Last $3.05 USD
Change Today -0.069 / -2.21%
Volume 80.3K
BRN On Other Exchanges
Symbol
Exchange
NYSE Amex
As of 8:04 PM 05/4/15 All times are local (Market data is delayed by at least 15 minutes).

barnwell industries inc (BRN) Key Developments

Barnwell Industries, Inc. Reports Unaudited Earnings Results for the First Quarter Ended December 31, 2014

Barnwell Industries, Inc. reported unaudited earnings results for the first quarter ended December 31, 2014. The company reported a net loss of $467,000 or $0.06 per share for the three months ended December 31, 2014, as compared to a net loss of $989,000 or $0.12 per share for the three months ended December 31, 2013. The company ended the quarter with $14,188,000 in cash and cash equivalents and $9,708,000 in working capital. Revenue for the quarter was $6,032,000 against $7,201,000 a year ago. Operating results increased from the prior year period for both land investment and contract drilling segments while lower oil and natural gas net production of 54% and 21%, respectively, and lower prices for all petroleum products partially offset these improved results.

Barnwell Industries, Inc., Annual General Meeting, Mar 02, 2015

Barnwell Industries, Inc., Annual General Meeting, Mar 02, 2015., at 09:30 Central Standard Time. Location: Wyndham Garden Shreveport Hotel. Agenda: To consider the election of a Board of Directors to serve until the next annual meeting of stockholders and until their successors shall have been elected and qualified; to consider the ratification of the selection of the independent auditor for 2015; and to consider any and all other business which may properly come before the meeting.

Barnwell Industries, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended September 30, 2014

Barnwell Industries, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended September 30, 2014. For the quarter, the company reported net earnings of $2,162,000, or $0.26 per basic and diluted share, as compared to a net loss of $1,648,000 or $0.20 loss per basic and diluted share for the quarter ended September 30, 2013. Revenue was $31,445,000 against $24,608,000 a year ago. For the year, the company reported net earnings of $672,000 or $0.08 per basic and diluted share, for the year ended September 30, 2014, as compared to a net loss of $8,563,000 or $1.03 loss per basic and diluted share for the year ended September 30, 2013. Revenue was $31,445,000 against $24,608,000 a year ago.

Barnwell Industries Mulls Acquisitions

Barnwell Industries, Inc. is looking for acquisition opportunities. Morton H. Kinzler, Chairman and Chief Executive Officer of Barnwell said, "During the year ended September 30, 2014, in recognition of favorable asset pricing and to generate cash proceeds for deleveraging and investment purposes, Barnwell sold oil and natural gas properties for proceeds of $13 million which we believe to have been very favorable sales prices. Parts of these proceeds were utilized to repay $5 million of our Canadian debt during the year and the Company plans to pursue strategic acquisitions of oil and natural gas properties with the remaining proceeds."

Barnwell Industries, Inc. Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended June 30, 2014

Barnwell Industries, Inc. announced unaudited earnings results for the third quarter and nine months ended June 30, 2014. For the quarter, the company reported revenue was $6,810,000 compared to $5,182,000 for the last year. Net loss was $216,000 or $0.03 per basic and diluted share, compared to $1,225,000 or $0.15 per basic and diluted share for the last year. For the nine months, the company reported revenue was $21,892,000 compared to $18,502,000 for the last year. Net loss was $1,490,000 or $0.18 per basic and diluted share compared to $6,915,000 or $0.84 per basic and diluted share for the last year. The loss for the nine months ended June 30, 2014 decreased as compared to the nine months ended June 30, 2013 as last year's nine months included a $4,506,000 reduction of the carrying value of oil and natural gas properties as compared to no reduction in carrying value in the current period, lower natural gas operating expenses due to $735,000 in soil contamination remediation costs, primarily at Dunvegan, in the prior year's period as compared to $45,000 in the current period, and natural gas, oil and natural gas liquids price increases of 39%, 5% and 11% in this current nine months as compared to a year ago.

 

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Price/Earnings 21.6x
Price/Sales 1.0x
Price/Book 1.4x
Price/Cash Flow 4.0x
TEV/Sales 0.0x
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